Question

Calculator Instructions Chart of Accounts General Journal Instructions Following are the selected transactions for April: (a) Received $18,000 from sale of common stock (b) Purchased equipment for $27.000, paying $10,000 in cash and giving a note payable for the remainder. (c) Paid $2,300 for rent for April (d) Purchased $1,500 of supplies on account. (e) Recorded $9,800 of tees earned on account (1) Received $7,500 in cash for fees earned. (9) Paid $1.200 to creditors on account (h) Paid wages of $3,425 Received $7,900 from customers on account.

Answer 1

Credit Debit $ 18,000 Transaction General journal Cash Common Stock (Being Common stock issued recorded) $ 18,000 (b) $ 27,000 Equipment Cash Notes payable (Being equipment purchased recorded) $ 10,000 $ 17,000 (c) $ 2,300 Rent expenses Cash (Being Rent expenses paid recorded) $ 2,300 $ 1,500 Supplies Accounts Payables (Being supplies purchased on account recorded) $ 1,500 (e) $ 9,800 Accounts Receivables Fees revenue (Being Fees earned on account recorded) $ 9,800

$ 7,500 Cash Fees revenue (Being cash received from fees earned recorded) $ 7,500 $ 1,200 Accounts Payable Cash (Being acsh paid to creditors on account recorded) $ 1,200 (h) $ 3,425 Wages Cash (Being wages paid recorded) $ 3,425 $ 7,900 Cash Accounts Receivables (Being cash received from customers on account recorded) $ 7,900 $ 1,875 Dividends Cash (Being Divodends paid recorded) $ 1,875